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How Much Does A Medicare Supplement Plan Cost In North Carolina?


How much does a Medicare supplement plan cost in North Carolina?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums tend to run slightly higher in North Carolina than they do in other nearby states.  But there are other factors that have a far greater impact on price.

Keep in mind that when searching for the ideal Medicare supplement plan, cost is a significant factor, is should not be the only factor you should consider.  The most important factor should always be the overall quality of the plan you choose.  This includes the benefits of the plan itself, as well as the company that is behind the plan.  Once you are satisfied with the aforementioned qualities of the plan, only then should you consider price.

Good to know:  Get assistance from a health care broker.  Having someone help with the legwork who understands what you need, can make a major difference.  Insurance agents can only help you with the products offered by the company they work for.  Brokers can access the products of multiple companies in order to find the right plan for your needs.  Brokers do not work for insurance companies, they actually work for you.
Even better, brokers are usually paid by the insurance company, making it possible for them to work for you at no cost.
We will list the factors that impact the premium rates of Medicare supplement insurance.  They are ordered from the most significant impact, to the least:
  • Plan Type
  • Age
  • Company
  • Tobacco Use
  • Health Status
  • Region
  • Gender

Plan Type
The most significant factor is the plan type that you choose.  For example, the monthly premium of a plan type "F" is going to be significantly higher than the monthly premium of a plan type "K".  This is because each Medicare supplement plan type offers a different benefit structure.  All supplement plans are designed to cover medical costs that are not covered by traditional Medicare.  However, some plans pick up more medical costs than others.  These benefit differences are reflected in monthly premium.

Age
With very few exceptions, the older you are, the higher your monthly premium.

Select Specialty Hospital - Greensboro - Greensboro,NC - health insurance
Select Specialty Hospital - Greensboro
1200 N Elm St
Greensboro, NC 27401
Telephone: (336) 832-5700
Plus Code: 36R7+C9 Greensboro, North Carolina




Company
In North Carolina, Medicare supplement monthly premiums vary wildly depending upon which insurance company you buy the plan from.  The fact that plan benefits may be exactly the same, does not mean the monthly premium will be.  While traditional Medicare is a government program, Medicare supplement plans are offered by private insurance companies.  They get to set the pricing of the plans they offer.

Tobacco Use
Most insurance companies in North Carolina will charge a slightly higher monthly premium for Medicare supplement coverage if you smoke or chew tobacco.

Health Status
In some cases, if you are not enrolling within the open enrollment - guarantee issue time frame for Medicare supplement coverage, some companies in North Carolina will charge you a higher rate if you have specific medical issues.  Please contact us if you have questions concerning this.

Gender
Both Medicare supplement and Medicare advantage plan insurance companies tend to offer slightly lower premium rates for women.

Where you live in North Carolina
Your Medicare Supplement plan monthly premium will vary depending on where you live in North Carolina.  Usually, monthly premiums in rural areas tend to be slightly lower than monthly premiums in large metropolitan regions.

Insurance companies offering Medicare Supplement and Medicare Advantage plans include:

  • AARP
  • Mutual of Omaha
  • Combined
  • IAC
  • Gerber
  • Blue Cross Blue Shield
  • Humana
  • Cigna
  • Aetna

On Average For 2020

On average, in North Carolina, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $115.00 - $137.00.
On average, in North Carolina, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $132.00 - $168.00.

Good to know:  You shouldn't promptly pay medical bills.  Yes, you read that right.  The reason is, healthcare providers tend to send bills well before the insurance company has decided what part of the claim they are obligated to pay.  The average person sees a bill and thinks they are obligated to pay it.  This couldn't be further from the truth.  Health care companies routinely shoots out bills to everyone one involved - regardless of who is actually responsible for paying it.  You need to know what the insurer is going to pay before you do anything.  Our advice? Don't pay a dime until you get an EOB (Explanation of Benefits) from your insurer that explains your claim and how much they are paying.


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